Bitcoin consolidates near $63,000 amid global risk-off sentiment. The cryptocurrency declined 3% in 24 hours, trading at $62,911, while Ethereum fell 2%. Major altcoins including XRP, BNB, and Solana slipped 4%, pushing global crypto market capitalization down 2% to $2.19 trillion. Institutional data reveals persistent outflows from spot Bitcoin ETFs, constraining downside absorption as investors shift toward defensive assets. Over $508 million in liquidations occurred in the past 24 hours as Bitcoin tested support near $63,000. Analysts note the market remains range-bound in consolidation rather than trend formation, with whale accumulation continuing but failing to impact price movement. Geopolitical tensions and macro sentiment around Bitcoin long positions have driven significant derivative liquidations, signaling cautious investor positioning.
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